Candel Therapeutics (NASDAQ:CADL) Now Covered by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Candel Therapeutics (NASDAQ:CADL) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $20.00 price target on the stock.

CADL has been the subject of several other reports. HC Wainwright restated a “buy” rating and issued a $19.00 target price (up from $11.00) on shares of Candel Therapeutics in a research report on Wednesday, December 18th. Bank of America started coverage on shares of Candel Therapeutics in a research report on Friday, February 7th. They issued a “buy” rating and a $15.00 target price for the company.

Candel Therapeutics Trading Up 10.0 %

Shares of NASDAQ:CADL opened at $10.47 on Wednesday. The firm has a 50 day moving average of $8.06 and a 200-day moving average of $6.54. The stock has a market capitalization of $340.07 million, a PE ratio of -6.05 and a beta of -1.25. Candel Therapeutics has a 12 month low of $1.34 and a 12 month high of $14.60.

Insider Activity at Candel Therapeutics

In other Candel Therapeutics news, insider Francesca Barone sold 13,673 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $8.22, for a total transaction of $112,392.06. Following the sale, the insider now directly owns 124,207 shares of the company’s stock, valued at $1,020,981.54. The trade was a 9.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul B. Manning bought 1,250,000 shares of Candel Therapeutics stock in a transaction on Monday, December 16th. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $7,500,000.00. Following the completion of the acquisition, the director now directly owns 1,303,752 shares in the company, valued at approximately $7,822,512. The trade was a 2,325.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 75,856 shares of company stock valued at $470,044. 41.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Candel Therapeutics

A number of institutional investors have recently added to or reduced their stakes in CADL. BNP Paribas Financial Markets bought a new stake in Candel Therapeutics during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. grew its holdings in Candel Therapeutics by 75.1% during the 4th quarter. Russell Investments Group Ltd. now owns 3,753 shares of the company’s stock worth $33,000 after acquiring an additional 1,610 shares during the last quarter. FMR LLC bought a new stake in Candel Therapeutics during the 3rd quarter worth approximately $46,000. MetLife Investment Management LLC bought a new stake in Candel Therapeutics during the 3rd quarter worth approximately $87,000. Finally, Wells Fargo & Company MN grew its holdings in Candel Therapeutics by 63.6% during the 4th quarter. Wells Fargo & Company MN now owns 10,122 shares of the company’s stock worth $88,000 after acquiring an additional 3,935 shares during the last quarter. 13.93% of the stock is owned by institutional investors.

Candel Therapeutics Company Profile

Candel Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the development immunotherapies for the cancer patients. It develops CAN-2409, which is in Phase II clinical trials for the treatment of pancreatic cancer; Phase III clinical trials for the treatment of prostate cancer; and Phase II clinical trials for the treatment of lung cancer, as well as has completed Phase Ib/II clinical trials for the treatment of high-grade glioma.